The Customs Administration receives a $4.8 million grant for the development and implementation of a risk management system and data warehouse from the Government of the Republic of Korea. The director of the Customs Administration, Stefan Bogoev, and Ki-dong Kim, director of the Customs Service of the Republic of Korea, signed a Memorandum of Cooperation for the awarding of the grant on Tuesday.
“Establishing this system will enable better targeting of declarations in which there is a risk of paying duties in an amount lower than the real price of the goods, a risk of incorrect customs classification or a risk of incorrect declaration of the origin of the goods. In this direction, our future policies based on this system will be aimed at developing the Customs Administration and improving risk management. Better risk management means protection of the financial interests of the state, and more money in the budget,” said Bogoev.
